Question

Smt. Desai sold shares of face value ₹ 100 when the market value was 60 and received 5978.76. She paid brokerage 0.3% and GST on brokerage 18%, then how many shares did she sell? ​

Answer 1

Smt. Desai sold approximately 100 shares of face value ₹100 when the market value was ₹60 and received ₹5978.76 after deducting brokerage of 0.3% and GST on brokerage of 18%.

Step-by-step explanation:

To find the number of shares sold, we need to consider the total amount received after deducting brokerage and GST. Let's denote the number of shares sold as 'x'.

Market value per share is ₹60, so the total amount received from selling 'x' shares is 60x.

After deducting brokerage of 0.3%, the amount received is reduced by (0.3/100)x60x = 0.18x.

So, the final amount received after brokerage is 60x - 0.18x = 59.82x.

Next, we need to consider the GST on brokerage, which is 18% of the brokerage. The GST amount is equal to (18/100)x0.3x60x = 0.324x.

Therefore, the final amount received by the seller is 59.82x - 0.324x = 59.496x.

According to the question, the seller received ₹5978.76, so 59.496x = 5978.76.

Now solving for 'x', we have x = 5978.76/59.496 ≈ 100.633.

Since shares cannot be in decimal values, the seller sold approximately 100 shares.